Why a Community Benefit Society?

We believe a limited liability Community Benefit Society is the best vehicle for operating The King’s Head. It’s ideally suited to community ownership of the pub, because it provides for:

• Democratic decision-making: It doesn’t matter how many shares each member buys - all shareholders get one vote each.

• Withdrawable shares: Members can take their money back out after The King’s Head has been trading as a community pub for at least 3 years (if it is sufficiently profitable).

• Interest on share investments: Payable after three years of trading, at a % rate agreed by the Management Committee.

• Re-investing profits: Share capital is not subject to growth or gains, so wider profits can be reinvested in improving the pub or supporting other community initiatives.

• An ‘Asset Lock’: If the Society is ever dissolves, shareholders would be repaid up to the value of their investment after any debts. Remaining assets would be transferred to another community benefit organisation with the same Asset Lock.

• Additional funding opportunities: As a Community Benefit Society, an increased range of grants may be available to apply for, to pay for costs like building repairs and refurbishments .